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Commercial Building Automation Systems Revenue is Expected to Total More than $713 Billion from 2015-2023, According to Navigant Research

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Commercial Building Automation Systems Revenue is Expected to Total More than $713 Billion from 2015-2023, According to Navigant Research

 

 

 

 

 

A recent report from Navigant Research analyzes the global market for commercial building automation systems (BASs), including global market forecasts through 2023. 

 

 

 

Today, the opportunities presented by analyzing the vast amounts of data that BASs can collect are accelerating their adoption across the commercial building sector. In particular, the integration of smartphones into many interactions between humans and the world around them is shifting the expectations of building occupants for their experiences in the built environment. According to a recent report from Navigant Research, cumulative worldwide revenue for commercial BASs is expected to exceed $713 billion from 2015-2023. 

 

 

 

“The adoption of BASs is being driven by several goals: to provide comfort for building occupants, optimize energy use, and comply with building energy codes,” says Benjamin Freas, research analyst with Navigant Research. “Prevalent for some years in the largest and most modern buildings, BASs are now expanding into smaller buildings, as well.”

 

 

 

Advances in the deeper integration of disparate BASs (for heating, ventilation, and air conditioning, or HVAC, lighting, security, safety, and so on) are helping drive their adoption in commercial buildings, according to the report. However, these systems have yet to reach their full market potential.  Growth in the BAS market remains dependent on rates of new construction and building retrofits, which, in turn, are driven by overall economic conditions in each world region.   .

 

 

 

The report, “Commercial Building Automation Systems,” analyzes the global market for commercial BASs for HVAC, lighting, fire & life safety, and security & access controls, as well as integrated building management systems (BMSs).  It assesses how market drivers and technology advances are expected to affect the adoption and success of these systems.  Global market forecasts, segmented by five key application segments, eight commercial building types, and two construction types, extend through 2023.  The report also provides in-depth profiles of the key industry players within the competitive landscape.  An Executive Summary of the report is available for free download on the Navigant Research website.

 

 

 

About Navigant Research

 

 

Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries.  In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets.  The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors.  

 

Posted March 5, 2015

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